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The nasdaq is the leading indices and oil hitting a threemonth highly after military strikes in the middle east energy is the bestperforming sector today joining us for the hour is josh brown, ceo of Ritholtz Wealth Management josh, obviously seeing a little profit taking here is this a tax situation scenario or is there more to read into about losing steam and sentiment . If you see profit taking on the what penultimate the penultimate is that not an american word as well . It is, we just dont use it as much. And it doesnt sound as good when i say it. It doesnt, sorry when youre seeing profit taking on the second to last day of the year, thats not tax related, but it could be front running what others suspect might be fax related, meaning look at a typical investment portfolio this year, if they own sector etfs, for example, they have a ton of Technology Large ....
Catalysts for investors on the horizon. With fed meetings this week and new tariffs set to go into effect this weekend. Joining us, ian winemore weve been paying close attention to these big trade headlines. How much is this influencing what were seeing on wall street these days i think its overstated as to how much its actually influencing wall street. I think theres two things at this point the first is that theres so much liquidity being pumped into the marketplace by central banks. They Just Announced another round of qe, even though theyre not calling it that. And youve got positioning, which is a very big deal a lot of hedge funds and active managers are lagging again some for the last ten years, and because of that, they cant afford to miss a rally you see this synthetic short base, where people are long cash, and thats why selloffs like today, youre not seeing a whole lot of followthrough, because need to hold until the en ....
A deal was close or the talks are going well in order to bring the market back up and thats exactly what happened on wednesday after the president made his statement to reporters at a meeting of nato leaders in london so the president said quote discussions are going very well and well see what happens and then sure enough proof like magic stocks rebounded on wednesday as the president also indicated that the 2 sides are closer to agreement on how many tariffs would be rolled back in todays one of the deal and another trade deal on the horizon the Japanese Parliament on wednesday approved a trade deal with the United States which was negotiated by that you could use leaders earlier this year the deal which cut tariffs between the 2 nations will go into effect at the start of 2020 after the deal was made between P ....
The deal. And another trade deal on the horizon the Japanese Parliament on wednesday approved a trade deal with the United States which was negotiated by that you could use leaders earlier this year the deal which cut tariffs between the 2 nations will go into effect at the start of 2020 after the deal was made between President Donald Trump and japanese Prime Minister shinzo abbay in september the us president said the trade deal will open the door for 7000000000. 00 in u. S. Beef and Agricultural Products to be sent to japan with tariffs lowered or removed on beef pork wheat cheese corn and wine now in the deal a 2. 5 percent tariff on japanese vehicles will still remain in place japan is c ....
Steeper falls on this but this is still early doors with what is going on with the benchmarks. Certainly what we also have going on is the treasury market as well. Seen a bit of the paring of the gains we have seen. Yields moving slightly to the upside. 1. 71 or thereabouts on that. Looking at futures. Flat for the s p on the futures. Lending a little bit of support. Cnh pretty much on move, we could see a gradually could get weaker. The offshore yuan 7. 07. Looking at sterling, we have 1. 30. Ver we have continued polls coming out suggesting the conservative well, boris johnson, did with the majority after the december 12 election. Thats what we have at the moment. Lets go to new york and join su keenan. Su we start with President Trump who is done a you turn on nato switching 180 degrees from his criticism to claiming credit for strengthening the alliance. Trump was especially vocal on efense spendingspens complaining that wash ....